Authored By: Sarah
19 Nov 2020

Ostomy Care Accessories Market Size to Grow by $ 165.81 mn through 2020-2024  

Technavio research projects the ostomy care accessories market to grow by $ 165.81 mn, accelerating at a CAGR of almost 7% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Ostomy Care Accessories Market: Key Market Driver

One of the primary factors that will trigger the growth of the ostomy care accessories market size is Increase in older population. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Ostomy Care Accessories Market to post CAGR of Almost 7% in 2020-2024 | Home-care Settings Segment to Drive Growth 

Ostomy Care Accessories Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 3M Co., ALCARE Co. Ltd., B. Braun Melsungen AG, Coloplast AS, ConvaTec Group Plc, Flexicare (Group) Ltd., Hollister Inc., Marlen Manufacturing & Development Co., Nu-Hope Laboratories Inc., and Smith & Nephew Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

Technavio has been monitoring the global ostomy care accessories market and is expected to grow by USD 165.81 million accelerating at a CAGR of almost 7% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Ostomy Care Accessories Market to post CAGR of Almost 7% in 2020-2024 | Home-care Settings Segment to Drive Growth 

Ostomy Care Accessories Market: Segmentation by End-user

During 2019, the home-care settings segment accounted for the major share of the Ostomy Care Accessories Market. The demand for ostomy care accessories is high from patients in the recovery stage, especially those requiring prolonged recovery time. To minimize healthcare costs, patients leave hospitals when the stomas are comparatively stable; but they need to continue the post-ostomy care at home. Hence, the large number of people opting for ostomy procedures in the comfort of their homes will drive the growth of the home care settings segment during the forecast period. However, market growth in the home care settings segment will be slower than the growth of the market in the healthcare settings segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the ostomy care accessories market size.

Ostomy Care Accessories Market: Segmentation by Geography

North America was the largest ostomy care accessories market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The presence of a large number of vendors, the availability of advanced healthcare facilities, and high awareness among home care users will significantly drive ostomy care accessories market growth in this region over the forecast period. 39% of the market’s growth will originate from North America with the US being a key market. Market growth in this region will be faster than the growth of the market in MEA and South America.

Ostomy Care Accessories Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 3M Co., ALCARE Co. Ltd. and B. Braun Melsungen AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

 

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